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Tight spreads keep Middle East borrowers in bond market, and away from loans
Kazakh bank doubles the tenor to two years compared to previous deals
Tighter margin loan a 'sign of things to come' for infrastructure lending
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CP Pokphand Co, the Hong Kong-listed investment arm of Thailand’s Charoen Pokphand Foods, has closed a $400m loan for refinancing with 15 lenders.
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A HK$18bn ($2.3bn) term loan sealed by China Overseas Land and Investment in 2017 is doing the rounds in the secondary market, offering asset-starved banks an opportunity to take exposure to the Hong Kong-listed company.
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The Vanguard Group, the US asset manager which pioneered low cost, index-tracking investment, has sold $3bn worth of private placements. According to GlobalCapital data, this deal is the largest ever recorded in the US private placement market.
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Taiwan’s Cheng Loong Corp, a paper maker, has closed syndication of a $130m borrowing with nine banks.
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The Loan Market Association is not looking at producing documentation for social revolving credit facilities, adding to the likelihood that the first-of-its-kind Covid-19 facility for Suez last week will remain a rarity in the market.
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Credit Suisse has given staff including Jeff Cohen new positions and is also creating a new energy and infrastructure group.
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